The Demand Curve for Petroleum Should Be

question 316

Multiple Choice

The demand curve for petroleum should be

• A) more elastic in the long run than in the short run.
• B) less elastic in the long run than in the short run.
• C) as elastic in the long run as it is in the short run.
• D) more or less elastic in the long run versus the short run depending upon supply conditions.

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Definitions:

Collecting Duct

Straight tubule that extends from the cortex of the kidney to the tip of the renal pyramid. Filtrate from the distal convoluted tubes enters the collecting duct and is carried to the calyces.

Excretory Organ

Organs involved in the removal of waste products and excess substances from the body, including kidneys, liver, lungs, and skin.

Glomerular Endothelium

The inner lining of the glomerulus in the kidney, involved in the filtration of blood to form urine.

Filtration Membrane

A barrier that separates particles based on size, allowing some to pass while blocking others, specifically in the context of biological systems like the kidneys.